The First National Bank of Berlin has filed suit to foreclose on the Grand Cambrian Resort in Wisconsin Dells, but developer Mac McDonald said he is not worried about the suit and that the $163 million development is "moving forward."

The bank filed the suit June 18 in Columbia County Circuit Court against Grand Cambrian and seven other parties that own interest in the resort development that, according to court records, owes more than $5.2 million. McDonald said he did not see any problem in restructuring the debt on the proposed 112-acre development.

Officials from the First National Bank of Berlin did not return calls asking for comment.

When the state Department of Natural Resources approved a construction permit for the project last year, officials proposed 323 town homes and hotel-style condominiums with prices ranging from $380,000 to $545,000. The project also includes multiple restaurants, a spa, two waterparks and 35,000 square feet of meeting space.

McDonald said the note on the development along the shores of the Wisconsin River in the Lower Dells had matured. The suit is part of the process, he said.

"In hard economic times, financing can be a challenge," McDonald said. "Two years ago, it would have been a cakewalk to get refinancing."

Developers have also completed work on a railroad bridge and underpass that allows access to the area and some condominiums have been sold, he said.